Patrick MontesDeOca, CEO of the Equity Management Academy, recently discussed how daily, weekly and monthly Academy reports have accurately predicted the movement of the gold market.
In an October 25 Academy report, which was based on the yearly outlook published on September 3, MontesDeOca said with the market above $1269 at the beginning of September, that the VC Price Momentum Indicator was bullish. However, he said, if gold closed below $1269 for the year, it would negate the long-term price momentum and turn it into a neutral position. If that happened, he said, “We could see the market come down below the mean of $1269, which was the average price for the year.” If that happened, he said, “We could see $1154 to $983 activated, which “would be a major sign to go long.” He stressed that such an occurrence was a “very low probability based on the cycle picture we’re looking at.”
MontesDeOca expected a cycle high on October 15, but instead the market inverted and came down to the October 15 low. This meant that the yearly lows predicted by the Academy were met about 30 day’s sooner. He said, “We could see an inverted bottom between October 15 and November 15.”
MontesDeOca said, “It appears that we have made the low on October 7 and had a secondary test of that low on October 14. This is essentially hitting the cycle expectation on target, validating that the low was made exactly during the expected time frame.” Gold is now (November 1) trading at $1289.60, with a high today of $1292. MontesDeOca said, “The price action is penetrating through some of the supply zone.”
Turning to the daily algorithms the Academy published yesterday when gold closed at $1273.10, MontesDeOca said it looked like there were two levels of demand at $1269 to $1266. The low was made at $1276. The market then went through the average price of $1275, which is the average for the day. He said, “The market going through it activated the targets of $1278 to $1283.” The high so far is $1292. Therefore, he said, “This target was completed on schedule for the day trading figures.”
MontesDeOca then discussed the weekly figures, for which, he said, “The market met the targets of $1288 to $1299, which is the supply zone in gold, with a high today of $1292. For the short to intermediate term, the market has met the anticipated targets.”
The monthly report, published October 1, predicted that if the price comes down to $1274, it would be the extreme below the mean of $1326, which is the average for the month. The market would activate a buy signal if the market closed above $1274. Gold made a low on October 6 of $1256, activating the buy two level and is currently trading at $1290. MontesDeOca said the market activated the $1274 buy signal that was published on October 1. The initial target is $1295, and the high so far today (November 1) is $1292. He said, the market is “moving toward that first target of $1295. If gold closes above that target, we are looking at the average for the month as a target, which is $1326 to $1327. A close above $1327 will give us the levels of supply between $1348 to $1378 as our monthly targets.”
Overall, the Academy’s daily, weekly and monthly reports have enjoyed tremendous accuracy and posted excellent returns for the Academy’s select group of subscribers. For more information on the criteria to join the Academy, please email email@example.com or call 805-418-1744.